2019 UEM Edgenta Annual Report

232 233 UEM EDGENTA AT A GLANCE MESSAGE FROM OUR LEADERSHIP STRATEGIC FOCUS OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION Notes to the Financial Statements For the year ended 31 December 2019 Notes to the Financial Statements For the year ended 31 December 2019 UEM Edgenta Berhad Annual Report 2019 32. DEFERRED TAX Group 2019 RM’000 2018 RM’000 At 1 January 35,589 34,485 Recognised in profit or loss 1,418 1,176 Recognised in other comprehensive income (Note 10) - (61) Disposal of a subsidiary (Note 17(e)) 73 - Exchange differences 37 (11) At 31 December 37,117 35,589 Presented after appropriate offsetting as follows: Deferred tax assets (13,274) (12,963) Deferred tax liabilities 50,391 48,552 37,117 35,589 The components and movements of deferred tax assets and liabilities during the financial year prior to offsetting are as follows: Deferred tax assets of the Group: Provisions and others RM’000 Unused tax losses and other tax credits RM’000 Total RM’000 At 1 January 2019 (18,011) (3,765) (21,776) Recognised in profit or loss 2,558 1,649 4,207 Disposal of a subsidiary 73 - 73 Exchange differences (4) - (4) (15,384) (2,116) (17,500) Less: Set off with deferred tax liabilities 4,226 At 31 December 2019 (13,274) At 1 January 2018 (23,312) (1,014) (24,326) Recognised in profit or loss 5,361 (2,751) 2,610 Recognised in other comprehensive income (61) - (61) Exchange differences 1 - 1 (18,011) (3,765) (21,776) Less: Set off with deferred tax liabilities 8,813 At 31 December 2018 (12,963) 32. DEFERRED TAX (CONT’D.) The components and movements of deferred tax assets and liabilities during the financial year prior to offsetting are as follows: (cont’d.) Deferred tax liabilities of the Group: Property, plant and equipment RM’000 Intangible assets RM’000 Concession receivable RM’000 Total RM’000 At 1 January 2019 6,500 30,620 20,245 57,365 Recognised in profit or loss (3,879) (3,066) 4,156 (2,789) Exchange differences - 41 - 41 2,621 27,595 24,401 54,617 Less: Set off with deferred tax assets (4,226) At 31 December 2019 50,391 At 1 January 2018 7,276 34,176 17,359 58,811 Recognised in profit or loss (776) (3,544) 2,886 (1,434) Exchange differences - (12) - (12) 6,500 30,620 20,245 57,365 Less: Set off with deferred tax assets (8,813) At 31 December 2018 48,552 The Group offsets tax assets and liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority.